Option Writers Newsletter, Friday, 02/15/2008 03:50:06 PM ET

Risk Management

by Robert Ogilvie

WYNN - The S&P 500 is slightly positive and Wynn resorts isn't able to rebound above the 106 support. We look more at closing levels than intraday levels and believe that the short put should be closed.

GROW - The stock is lethargic and boring. But it is currently consolidating and allowing the time value to erode. The strategy of selling options is more about time value erosion than directional profit.

TIF - It seems strange to maintain this position in a slowing economy. Yet the stock is still above the 36 support.

SBUX - Starbux is boring too. As of now, the stock is finding support at 18.

SWIM - Investools Inc. reports EPS next Thursday. I want to close out the position prior to Thursday.